A member of
Eurex
1. Introduction
The Executive Boards of Eurex Frankfurt AG and Eurex Clearing AG decided to introduce a new fixed Service Fee for the Self-Match Prevention functionality (SMP) and to amend the Price List of Eurex Clearing AG accordingly, effective as of 1 December 2025.
2. Required action
Trading Participants are advised to review their internal processes and/or technical interfaces to ensure readiness for the processing of the fixed Service Fee for SMP events.
3. Details of the initiative
A. Current SMP Functionality:
Under the current "Netting" model, both sides of a prevented trade are reduced by the same quantity and are subject to the applicable order book/account fees. These transactions are currently eligible for Liquidity Providers and Volume Rebates.
B. New SMP Functionality:
With the upcoming T7 Release 14.0 in November 2025, Eurex will introduce a redesigned SMP model offering three deletion instructions:
In line with this enhancement, a new fixed Service Fee will be introduced with the following key elements:
The new Service Fee will not be eligible for rebates.
The fee will be charged per currency as detailed in the following table:
Currency | Fee per Contract |
AUD | AUD 0.20 |
CAD | CAD 0.15 |
CHF | CHF 0.10 |
DKK | DKK 0.75 |
EUR | EUR 0.10 |
GBP | GBP 0.10 |
JPY | JPY 15.00 |
NOK | NOK 1.00 |
NZD | NZD 0.20 |
SEK | SEK 1.00 |
USD | USD 0.10 |
In conjunction with the introduction of the new fixed Service Fee, the previous order book/account fee applied to SMP events under the “Netting” model will be discontinued.
Attachment:
Further information
Recipients: | All Trading Participants of Eurex Deutschland, Liquidity Providers and Vendors | ||
Target groups: | Front Office/Trading, Middle + Backoffice, IT/System Administration | ||
Related circular: | Eurex Circular 039/25 | ||
Contact: | eurex.pricing@eurex.com | ||
Web: | Support > Initiatives & Releases > T7 Release 14.0 | ||
Authorized by: | Matthias Graulich |
Market Status ⓘ
XEUR
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Please find further information about incident handling in the Emergency Playbook published on the Eurex webpage under Support --> Emergencies and safeguards. Detailed information about incident communication, market re-opening procedures and best practices for order and trade reconciliation can be found in the chapters 4.2, 4.3 and 4.5, respectively. Concrete information for the respective incident will be published during the incident via newsboard message.
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